94% Say complaints firms should be regulated

A whopping 94% of Mortgage Strategy Online readers backed Mortgage Strategy’s Stop the Rot campaign last week to crack down on complaint management firms, agreeing that they should be regulated. As Chris Cummings, director-general of the Association of Mortgage Intermediaries argued last week, these firms are the “scourge of the intermediary sector”.

This week, Mortgage Strategy asks: “Has two shags shafted himself for the last time with his stint on the croquet lawn?”

Recommended

The Mortgage Works is to stage a five-a-side football tournament in Finsbury Park, north London on June 20. The date of the event coincides with England’s group game with Sweden at the World Cup in Germany. The intermediary tournament follows the successful event two years ago that took place during Euro 2004 and saw Alexander […]

Paragon Mortgages and BM Solutions dispute claims from Landlord Mortgages that further regulation will stifle the buy-to-let sector. Research from Landlord Mortgages has disclosed that the Tenancy Deposit Scheme will lead to an increase in the number of landlords using letting agents. In 2005, 22% of landlords who used letting agents intended to manage their […]

The Financial Services Authority has issued a consultation paper on new Integrated Regulatory Reporting requirements for firms. These will enable the regulator to use regulatory reporting to more effectively monitor and mitigate risks to the FSA’s statutory objectives.The requirements will apply to banks, building societies and investment firms. These include investment managers, securities and futures […]

Debt recovery specialists Moore and Blatch has warned that changes in personal attitude to debt could present lenders with new challenges in debt recoveries.Recently published statistics from the government’s Insolvency Service, showthat more than 23,000 people became insolvent in England and Wales duringthe first three months of 2006.That represented a 73% rise on the same […]

“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.